Prologis, Inc. (NYSE:PLD) Position Lifted by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC grew its position in Prologis, Inc. (NYSE:PLD - Free Report) by 274.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,369 shares of the real estate investment trust's stock after purchasing an additional 25,935 shares during the quarter. Icon Wealth Advisors LLC's holdings in Prologis were worth $4,466,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Trust N.A. raised its stake in Prologis by 15.2% during the 3rd quarter. Raymond James Trust N.A. now owns 27,959 shares of the real estate investment trust's stock worth $3,531,000 after acquiring an additional 3,685 shares in the last quarter. First County Bank CT acquired a new stake in Prologis during the 3rd quarter worth $280,000. Charles Schwab Investment Management Inc. raised its stake in Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust's stock worth $1,291,743,000 after acquiring an additional 441,841 shares in the last quarter. L & S Advisors Inc raised its stake in Prologis by 41.7% during the 3rd quarter. L & S Advisors Inc now owns 27,789 shares of the real estate investment trust's stock worth $3,509,000 after acquiring an additional 8,184 shares in the last quarter. Finally, LPL Financial LLC raised its stake in Prologis by 24.1% during the 3rd quarter. LPL Financial LLC now owns 814,914 shares of the real estate investment trust's stock worth $102,907,000 after acquiring an additional 158,211 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Up 1.6 %

PLD traded up $1.83 during trading on Friday, hitting $115.80. 2,432,985 shares of the company's stock were exchanged, compared to its average volume of 3,529,268. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52. The stock has a 50 day moving average price of $119.75 and a 200 day moving average price of $118.32. The firm has a market cap of $107.25 billion, a P/E ratio of 34.97, a price-to-earnings-growth ratio of 3.00 and a beta of 1.08.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.30 earnings per share. As a group, analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. Prologis's dividend payout ratio (DPR) is presently 116.01%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Scotiabank dropped their price objective on shares of Prologis from $142.00 to $136.00 and set a "sector outperform" rating on the stock in a research note on Friday, October 25th. Royal Bank of Canada cut shares of Prologis from an "outperform" rating to a "sector perform" rating and lifted their target price for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Barclays boosted their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. JPMorgan Chase & Co. cut their price objective on shares of Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Finally, Bank of America reissued a "neutral" rating and issued a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $131.25.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.